Wistrand advises SBB on its aquisition of Sveafastigheter Bostad
Wistrand Advokatbyrå has advised Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”) on its acquisition of 100 percent of the shares in Sveafastigheter Bostad (“Sveafastigheter”) for a purchase price of SEK 2,770 million.
The transaction is financed in half through an issue of 44,533,762 Class B shares at a subscription price of SEK 31.10 per share, and the remaining part is financed by SBB realising certain financial assets. SBB already today owns, including ongoing projects, approximately 2,000 apartments in Greater Stockholm and with this acquisition the portfolio grows to approximately 8,000 apartments. All in all, this makes SBB a leading private landlord of rent regulated apartments in Greater Stockholm.
The acquisition includes a total of approximately 7,100 apartments including development portfolio and projects which, in addition to Greater Stockholm, are located in the Öresund region and in Swedish university towns.
Completion is intended to take place on 15 December 2020.